PSD2

What Is PSD2 and How Does It Affect UK Banking?

PSD2: The Regulation That Opened UK Banking The Second Payment Services Directive (PSD2) is European Union legislation that came into effect in 2018, fundamentally changing how banks must handle customer data and payment services. Although the UK has now left the EU, PSD2 was implemented into UK law and its

open banking

What Is Open Banking and How Does It Benefit UK Consumers?

Open Banking Simply Explained Open Banking is a regulatory framework that lets you securely share your financial data with third-party apps — but only with your explicit permission. Introduced in the UK in 2018 following a Competition and Markets Authority investigation, it has transformed how consumers manage money. How It Works